Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(For Problem 10 and 11) The table below shows 10-year record of sales of a discount store Aodi. Aodi's 4th quarter includes Thanksgiving, Hanukah, Christmas.

image text in transcribed
image text in transcribed
image text in transcribed
(For Problem 10 and 11) The table below shows 10-year record of sales of a discount store Aodi. Aodi's 4th quarter includes Thanksgiving, Hanukah, Christmas. Year 1Q 2Q 1 2 3 4 5 6 7 8 9 $15,593 $15,935 $16,867 $16,706 $16,657 $17,119 $16,196 $16,223 $16 $15,532 $16,240 $16,779 $17,117 $16,957 $17,427 $16,169 $16,634 $17 $15,605 $16,402 $16,929 $17,258 $17,254 $17,613 $16,441 $16,874 $17 $20,660 $21,288 $22,726 $20,198 $21,750 $21,626 $21,465 $22,983 $22 3Q 40 You are hired to make a forecast for each quarter in Year 11. As the 4Q sales were always much higher than those of other quarters, you decided to use To use the method, you need a forecast of Year 11 total sales. You first calculate the annual sales figures for the last 10 years, and see if there is a pattern. There is a drop in Year 4, but you see a bigger drop in Year After the second drop to Year 10, the annual sales figures show a clear linear pattern with a positive slope. Using that period, which shows a clear linear pattern, you decide to establish a linear regression model to forecast Year 11 totals sales. In the linear regression, independent variable is and dependent variable is and You get the regression equation with a vertical intercept a slope Thus you forecast Year 11 total sales as $ million. 0.9993 2,616.5 Vear What is your forecast for the 4Q sales of Aodi in Year 11? Type in your answer with a proper unit in the first box. Take a picture of your work, hand written notes or Excel sheet, then drop it in the second box. Year 10 20 3Q 40 1 $15,593 $15,532 $15,605 $20,660 2 3 5 $15,935 $16,867 $16,706 $16,657 $16,240 $16,779 $17,117 $16.957 $16,402 $16.929 $17,258 $17,254 $21.288 $22,726 $20,198 $21,750 6 $17,119 $17,427 $17,613 $21,626 7 8 $16,196 $16,223 $16,169 $16,634 $16,441 $16,874 $21,465 $22.983 9 $16,781 $17,776 $17.821 $22.978 ($ million) 10 $17.627 $18,422 $18,665 $23,398 (For Problem 10 and 11) The table below shows 10-year record of sales of a discount store Aodi. Aodi's 4th quarter includes Thanksgiving, Hanukah, Christmas. Year 1Q 2Q 1 2 3 4 5 6 7 8 9 $15,593 $15,935 $16,867 $16,706 $16,657 $17,119 $16,196 $16,223 $16 $15,532 $16,240 $16,779 $17,117 $16,957 $17,427 $16,169 $16,634 $17 $15,605 $16,402 $16,929 $17,258 $17,254 $17,613 $16,441 $16,874 $17 $20,660 $21,288 $22,726 $20,198 $21,750 $21,626 $21,465 $22,983 $22 3Q 40 You are hired to make a forecast for each quarter in Year 11. As the 4Q sales were always much higher than those of other quarters, you decided to use To use the method, you need a forecast of Year 11 total sales. You first calculate the annual sales figures for the last 10 years, and see if there is a pattern. There is a drop in Year 4, but you see a bigger drop in Year After the second drop to Year 10, the annual sales figures show a clear linear pattern with a positive slope. Using that period, which shows a clear linear pattern, you decide to establish a linear regression model to forecast Year 11 totals sales. In the linear regression, independent variable is and dependent variable is and You get the regression equation with a vertical intercept a slope Thus you forecast Year 11 total sales as $ million. 0.9993 2,616.5 Vear What is your forecast for the 4Q sales of Aodi in Year 11? Type in your answer with a proper unit in the first box. Take a picture of your work, hand written notes or Excel sheet, then drop it in the second box. Year 10 20 3Q 40 1 $15,593 $15,532 $15,605 $20,660 2 3 5 $15,935 $16,867 $16,706 $16,657 $16,240 $16,779 $17,117 $16.957 $16,402 $16.929 $17,258 $17,254 $21.288 $22,726 $20,198 $21,750 6 $17,119 $17,427 $17,613 $21,626 7 8 $16,196 $16,223 $16,169 $16,634 $16,441 $16,874 $21,465 $22.983 9 $16,781 $17,776 $17.821 $22.978 ($ million) 10 $17.627 $18,422 $18,665 $23,398

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting Concepts And Applications For Managerial Decision Making

Authors: Ralph S. Polimeni, James A. Cashin, Frank J. Fabozzi, Arthur H. Adelberg

2nd Edition

0070103100, 978-0070103108

More Books

Students also viewed these Accounting questions

Question

Describe reviewing applications and rsums.

Answered: 1 week ago

Question

Identify the uses of performance appraisal.

Answered: 1 week ago

Question

Discuss selection in a global environment.

Answered: 1 week ago